The rise of the self-employed Australian presents some challenges

It wasn’t long ago that the only way to be employed was to show up to a workplace every day and slog away from 9 to 5 – one company, one job, one boss. Nowadays, people are starting to blur those lines a little bit, carving out their own independent career paths. They’re not working for their employers so much as working for themselves.

New hi-tech platforms like Uber are largely to thank for this. Now that people have ways of generating income without working conventional jobs, the economy is starting to take on a new look.

Changing attitudes about independent workers

Who needs an employer anymore? As ABC News reported, the answer is: not nearly as many people as it used to be. Uber, the wildly successful ride-sharing platform, and Deliveroo, which is now a billion-dollar food delivery service, are transforming the way people think about employment. This development is not without conflict. Because these “gig economy” firms classify their workers as independent contractors and not employees, there are thorny issues to resolve, such as whether drivers can unionise and demand better wages and benefits. The issues in play here are already complex – and that’s before we even begin talking about the challenge of making mortgage repayments on an inconsistent income.

So what about getting home loans?

Everyone wants to buy a home, even if they don’t have a “job” in the conventional sense. For giggers who don’t have the benefit of a steady paycheck, it’s important to still show some modicum of serviceability. This means demonstrating that your income is relatively high and your expenses, low. If you develop a solid track record of being successfully self-employed and have some savings to show for it, you might be able to buy a house, despite not having a normal paycheck. Finding low-interest loans that will pad your finances can certainly help with this.

Find a broker who will work for you

When you’re in a challenging situation financially, the first step toward getting a home is finding a mortgage arrangement that will be favourable for you. We can help with that – within our network of lenders, there’s sure to be one that can get you a fair deal. We have solutions available for all kinds of borrowers. You might have an uncertain employment situation, incomplete financials, trouble with cash flow or a score of other possible issues – but no matter what, we’ll work to find you a mortgage that works. Talk to us today and find out more.